Northwestern Ontario junior miner Sage Gold has entered into a merger agreement with Consolidated Puma.
Sage will acquire all the outstanding shares of Puma in a $3.5 million all-share transaction.
In a May 21 statement, Sage Gold president/CEO Nigel Lees said combining with Puma allows them to continue with aggressive exploration program in the Beardmore-Geraldton gold camp in northwestern Ontario where Sage has extensive property holdings.
Sage has six properties in the Beardmore area and another on the west end of Lake Abitibi near Iroquois Falls in northeastern Ontario.
Consolidated Puma Minerals Corp. is known for exploration for platinum group metals in northwestern Russia.
Puma president Vahan Kololian said “The combination of both companies enables Puma shareholders to acquire a 25 per cent share of a growing gold company in the Beardmore Geraldton area of Ontario.”
The agreement must be approved by shareholders of both companies.
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